Jattashankar Industries Limited has issued a further corrigendum to its Notice of Postal Ballot, reducing the proposed issue size of convertible warrants to ₹75,02,60,000. The revision, dated May 27, 2026, follows a previous corrigendum on May 20, 2026, and addresses modifications to the resolution and explanatory statement for Agenda Item No. 2 regarding the issuance of warrants on a preferential basis. The reduction is attributed to the ineligibility of certain allottees, decreasing the total number of warrants from 86,95,000 to 81,55,000.

The company seeks shareholder approval to issue up to 81,55,000 convertible warrants at a price of ₹92 each, including a premium of ₹82, to persons and entities in the “Promoter and Promoter Group” and “Non-Promoter” categories. The proceeds, aggregating to ₹75,02,60,000, are intended to meet working capital requirements and for general corporate purposes. The remote e-voting process commenced on May 13, 2026, and shareholders have until June 11, 2026, at 5:00 P.M. to cast their votes.

Key Details of the Preferential Issue

The board approved the issue on May 12, 2026, based on a valuation report from M/s. Procurve Valux Private Limited. The relevant date for determining the issue price is May 12, 2026. The warrants will be convertible into one equity share of ₹10 each. The company stated that the issue will not result in any change in management or control.

Utilization of Proceeds

The corrigendum specifies that the funds will be utilized within six months from the date of receipt. Shareholders who have already voted on Resolution No. 2 and have queries regarding the revision may contact the company via email at jattashankarind@yahoo.com until June 11, 2026. The notice must be read in conjunction with the original Postal Ballot Notice dated May 12, 2026, and the prior corrigendum.

Jattashankar Industries Limited has issued a corrigendum to its notice of postal ballot dated May 12, 2026, modifying the resolution for the preferential allotment of convertible warrants. The revision follows remarks received from BSE Limited regarding the ineligibility of two allottees and the disclosure of pre-preferential shareholding details. The company has subsequently reduced the issue size and updated the explanatory statement for Agenda Item No. 2.

Revised Issue Details

The board has approved the issuance of up to 84,05,000 convertible warrants, a reduction from the previously proposed 86,95,000 warrants. The warrants are being issued at a price of ₹92 each, comprising a face value of ₹10 and a premium of ₹82. The total issue size aggregates to ₹77,32,60,000. The proceeds from the issue are intended to be utilized for meeting working capital requirements and general corporate purposes.

Utilization of Proceeds

The company plans to deploy the funds raised through the preferential issue towards specific objects. An estimated ₹60,00,00,000 is allocated for meeting working capital requirements, while ₹17,32,60,000 is earmarked for general corporate purposes. The management estimates that the entire issue proceeds will be utilized within six months from the date of receipt of funds.

Warrant Allottees and Terms

The warrants are proposed to be issued to 56 allottees, including individuals and entities, categorized as both promoter and non-promoter groups. The warrants will be convertible into equity shares within a period of 18 months from the date of allotment. The relevant date for determining the issue price is fixed as May 12, 2026.

The payment structure requires 25% of the issue price to be paid on allotment of the warrants, with the remaining 75% payable at the time of conversion into equity shares. The warrants and the resultant equity shares will be subject to a lock-in period as specified under the SEBI (ICDR) Regulations.

Shareholder Voting

The remote e-voting process commenced on May 13, 2026, and will remain open until June 11, 2026, at 05:00 P.M. Shareholders who have already cast their votes and have queries regarding the revision may contact the company via email at jattashankarind@yahoo.com up to the closing date of the voting process.